Binance – the world's largest crypto exchange – has elevated the stablecoin USD1 issued by World Liberty Financial by allowing users to trade assets like BNB, ETH, and SOL with USD1 pairs.
The exchange announced on Thursday that USD1 will be introduced to "many of the most active spot markets on the platform." This week, Binance will also convert all collateral assets backing Binance-Peg BUSD (B-Token) to USD1 at a 1:1 ratio.
World Liberty stated that this transition helps USD1 become an important part of Binance's new collateral asset structure, thereby increasing the level of integration of the stablecoin in the exchange ecosystem.
According to data from DeFiLlama, there are currently nearly 2.8 billion USD USD1 in circulation. The majority of the supply comes from MGX – an investment fund in Abu Dhabi – after this entity used USD1 to make a 2 billion USD investment in Binance earlier this year.
Zach Witkoff, CEO and co-founder of World Liberty Financial, commented:
"The expansion of Binance's support for USD1 is an important milestone in our efforts to bring the digital stablecoin USD to global users. By integrating USD1 into liquidity, trading, and collateral asset systems, Binance is helping hundreds of millions of people access USD1 more easily."
Trump and his children are co-founders
President Donald Trump along with his three sons are also listed as co-founders of World Liberty Financial – a DeFi protocol launched in October 2024.
In October, Trump pardoned former Binance CEO Changpeng Zhao. At the same time, Binance.US denied that political motives were related to the decision to list USD1.
Launched in March, World Liberty's USD1 stablecoin is said to be fully backed by short-term US Government bonds, USD deposits, and other cash-equivalent assets.
https://coinphoton.com/binance-mo-rong-vai-tro-cua-stablecoin-usd1-tren-he-sinh-thai-giao-dich.html
